Financial Crisis Sours Consumers; Record Say Economy's Getting Worse

TREND – Confidence has had a dreadful year. The CCI started 2008 at -20, hit its record low -51 in May, climbed back to -41 in July but hasn't gone higher. It's averaging -40 this year, putting it on track for the second worst on record, after -44 in 1992.

The index's long-term average is -10; its best year, +29 in 2000; its best week, +38 in January 2000.

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GROUPS – The index is higher as usual in better-off groups, but remains negative across the board for the 16th straight week. It's -6 among people with the highest incomes compared with -81 among those with the lowest, -41 among college graduates vs. -69 among high-school dropouts, -68 among blacks vs. -43 among whites, -63 among renters vs. -43 among homeowners and -40 among men and -55 among women.

Sharp partisan differences remain; the index ranges from -20 among Republicans to -47 among independents and -65 among Democrats, just 1 point off their lowest.

Here's a closer look at the three components of the ABC News CCI:

NATIONAL ECONOMY – Nine percent of Americans rate the economy as excellent or good; it was 14 percent last week. The highest was 80 percent on Jan. 16, 2000. The lowest was 7 percent in late 1991 and early 1992.

PERSONAL FINANCES – Fifty percent say their own finances are excellent or good; it was 50 percent last week. The best was 70 percent, last reached in January 2000. The worst was 42 percent on March 14, 1993.

BUYING CLIMATE – Nineteen percent say it's an excellent or good time to buy things; it was 21 percent last week. The best was 57 percent on Jan. 16, 2000.

METHODOLOGY: Interviews for the ABC News Consumer Comfort Index are reported in a four-week rolling average. This week's results are based on telephone interviews among a random national sample of 1,000 adults in the four weeks ending Oct. 13, 2008. The results have a 3-point error margin. The expectations question was asked of 500 respondents Oct. 1-13, 2008; that result has a 4.5-point error margin. Field work by ICR-International Communications Research of Media, Pa.